Organizational vision, mission, and values
The mission, vision, and value statements of Overstock.com are statements set forth to achieve goals. They are important in providing customers with the best value and a superior customer experience. “Overstock.com is a technology-based retail company offering customers a wide variety of high-quality products, at superior value, and with superior customer service” ("Overstock.com", 2012). The strategy of the company as detailed above is to offer customers high quality products, a great value, and with superior customer service. “The NRF Foundation/American Express Customer Choice Awards ranks Overstock.com #4 in customer service among all U.S. retailers” ("Overstock.com", 2012). It is apparent by the revenue that the company’s strategy is working. The company’s revenue in 1999: $1,835,000 as compared to their revenue in 2011: $1,054,277,000 (“Overstock.com”, 2012). External Environmental Analysis
Overstock.com has a large network of suppliers that can reduce some of the barriers related to price sensitivity. Consumers use Overstock.com because they know they can buy a name brand product at lower prices. For the purpose of the analysis of the external environment the supply chain of rival online companies will be compared, current economic factors and its influence on consumers, and the industry environment will be compared. In the current economy consumers tend to be inclined to buy products of good quality, but lower priced. This is advantageous to Overstock.com, as this is the type of consumer they market to. The analysis will include current earnings and financials for Overstock.com and those if its competitors.
Internal Environmental Analysis
Overstock.com has won many awards for its excellent customer service and for being a great company to work for. The superior customer service is strength of the company, but it also has weaknesses. A SWOT analysis will be...